For the second time in four weeks the price of bitcoin has broken through US$400 increasing by over 10% in 2 days. So, where to from here?…
Well, with my crystal ball on the blink I can only speculate; but given the rally four weeks ago it seems to be on a bit of a run again. The previous rally on the 4th of November, where the price ranged by over $100 in a day, was certainly eventful as the price peaked a touch over $500 before sagging back to $320 within a week.
There has been renewed interest in the cryptocurrency of late which could explain it; however, most of this revolves around the core technology, namely blockchain. Whether this is driving the bitcoin price is anyone’s guess and there is no shortage of people guessing!
So, if you have an iron stomach and love a bit of risk, dive in and buy some bitcoin. Not me, I’ll be sitting on the sidelines.
In any case, check out charts.stacksofcoin.com for a detailed chart of the bitcoin price.